Technip Energies: orders quadrupled over nine months, margin declining to 6.9%
Technip Energies published nine-month accounts on October 29, 2026, revealing two distinct trajectories. Order intake reached €14.1 billion, compared with €3.36 billion a year earlier. At the same time, recurring EBITDA margin fell from 8.8% to 6.9%.
The engineering group confirmed its 2026 guidance and its target of over €800 million in annual EBITDA by 2028. These unaudited results were established in an operating environment prolonged disrupted in the Middle East, marked by the Strait of Hormuz crisis.
According to Chief Executive Officer Arnaud Pieton, profitability recovered after a low point in the second quarter. The third quarter achieved the highest quarterly EBITDA level in the group's history.
Revenue up, profitability down over nine months
Under adjusted IFRS standards, revenue for the first nine months of 2026 stood at €5,596.7 million, compared with €5,417.1 million a year earlier. Under published IFRS, it reached €5,760.0 million, compared with €5,367.3 million.
Recurring EBITDA declined to €384.7 million, compared with €478.0 million, representing a margin of 6.9% versus 8.8% for the same period in 2025. Recurring EBIT fell from €385.3 million to €276.4 million, and its margin from 7.1% to 4.9%.
Adjusted net income stood at €184.8 million, compared with €281.9 million. Diluted earnings per share fell from €1.58 to €1.04. Under published IFRS, net income reached €185.9 million, compared with €278.9 million a year earlier.
Order book of €24.5 billion, compared with €16.8 billion a year earlier
The contrast with margins reflects commercial dynamics. Order intake for the first nine months totaled €14,128.3 million, compared with €3,361.8 million for the same period in 2025. The order book stood at €24,506.8 million at the end of the period, compared with €16,764.0 million a year earlier.
This order book represents revenue to be generated over several fiscal years. Management describes it as close to its record level. According to Arnaud Pieton, Project Delivery activity orders were distributed across multiple end markets and geographic zones.
The Technology, Products & Services division is experiencing, according to him, a commercial recovery in ethylene, hydrogen and fertilizers. The group is simultaneously developing two adjacent business models: Reju, dedicated to textile waste regeneration, and Rebound, for sustainable aviation fuels.
On October 12, 2026, Technip Energies also announced it had been selected by Hindustan Petroleum Corporation Limited to modernize its Mumbai refinery, a contract valued between €250 and €500 million.
2026 guidance confirmed, target of over €800 million in EBITDA by 2028
The group confirmed its conditional targets for 2026. For Project Delivery, it targets revenue between €5.7 and €6.3 billion and an EBITDA margin above 5.0%. For Technology, Products & Services, the target is €1.9 to €2.2 billion in revenue, with an EBITDA margin of approximately 15%.
Central costs are expected between €65 and €75 million, for an effective tax rate of 30 to 32%. For fiscal year 2025, whose accounts were published on March 18, 2026, the group had achieved revenue of €7,203.8 million and net income of €363.8 million.
On the stock market, the share showed a decline of 28% over one year as of October 9, 2026, before rising 8.5% over seven sessions in mid-October. The structuring point of the publication remains the order book of €24.5 billion, on which management bases its target of over €800 million in annual EBITDA by 2028.
